Most are operating on the fringes of the market as popular players Singapore-based Grab Holdings Inc, and local company PassApp Technologies Co Ltd consume the larger part.

Recently, South Korea-based ride-hailing service provider Mass Vehicle Ledge Foundation Pte Ltd (MVL), which operates TADA app, joined the market, bringing with it a new business model to rival its contemporaries.

MVL’s zero-commission model where drivers need not pay the app provider any commission, currently practiced by Grab. Drivers under Grab pay a commission of 25 percent to the company.

Drivers tend to work under multiple ride-hailing services to earn more. TADA drivers could likely earn a full sum from rides without the obligation of commissions.

Despite the presence of two ride-hailing giants in the market, MVL is not intimidated, believing they would be able to capture a market share on the back of their business model.